The Middle East and Africa Aquafeed Market was worth $9.43 billion in 2021 and estimated to be growing at a CAGR of 6.72%, to reach $13.06 billion by 2026.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is fed to the aquaculture.Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors, and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. The end consumers of Aquafeed are fish, mollusks, crustaceans, etc. Tilapia is the most farmed fish, raised in 135 countries whereas Shrimp is the largest aquaculture commodity.
Middle East and Africa Aquafeed Market Drivers:
The growth of the Middle East and Africa Aquafeed market is majorly driven by factors such as the growth in fish consumption, increase in mass production of fish, and limited availability of marine feed resources. Strict regulatory structures, volatile economies, and the increasing cost of operations are the major hindrances for the market in this region. And, an increase in the cost of raw materials is also a key challenge for the companies in the market.
Middle East and Africa Aquafeed Market - By End Use:
Middle East and Africa Aquafeed Market - By Additives:
The market has been geographically segmented into the Middle east and Africa and is projected to be one of the fastest-growing Aquafeed markets in the world. In terms of revenue, South Africa leads the market in this region. The market in this region has the lowest share of the global market due to unawareness of the farming community about the uses and benefits of fish feed additives.
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